Value engineering

About: Value engineering is a research topic. Over the lifetime, 1231 publications have been published within this topic receiving 10882 citations. The topic is also known as: VE.

A three-phase integrated model for product configuration change problems

Abstract: Requirements of engineers or customers may result in product configuration change with product life cycle; effective management of product configuration can actually enhance productivity and customer satisfaction. This study aims to develop a three-phase evaluation model incorporating fuzzy theory, value engineering and multi-criterion to find optimal strategies for product configuration change, so as to select suitable combination of parts suppliers. Genetic algorithm was used to solve the issue concerned with part change in a short time with part quality, cost, time and reliability as evaluation parameters. Finally, as a case study, the display module of a notebook was analyzed, the results indicate that the evaluation can be effectively applied in a large-scale product configuration change.

Complete fuzzy scheduling and fuzzy earned value management in construction projects

Abstract: This paper aims to present a comprehensive proposal for project scheduling and control by applying fuzzy earned value. It goes a step further than the existing literature: in the formulation of the fuzzy earned value we consider not only its duration, but also cost and production, and alternatives in the scheduling between the earliest and latest times. The mathematical model is implemented in a prototypical construction project with all the estimated values taken as fuzzy numbers. Our findings suggest that different possible schedules and the fuzzy arithmetic provide more objective results in uncertain environments than the traditional methodology. The proposed model allows for controlling the vagueness of the environment through the adjustment of the α-cut, adapting it to the specific circumstances of the project.

The Methodology of Using Value Engineering in Construction Projects Management

Abstract: Construction projects are implemented in different countries with heavy costs and some of the projects have been relatively or absolutely unsuccessful and even faced with irreversible losses after construction. Maybe, it is due to complexities related to projects or other social-economic phenomenon. The present study revealed that value engineering can be used as a helpful tool from the beginning of studies to the end of designing, constructing, exploiting, and maintaining processes and overcome civil designs’ challenges and complexities. Value engineering is a method experienced in management that has an organized approach. Value engineering has a systematic and cooperative mechanism to analyze function and systems with the aim of achieving desirable function with the least costs. This study has attempted to briefly introduce concepts and executive process of value engineering in construction projects. Also, the study has attempted to investigate conventional methods of evaluating projects function and compare them convergence with value engineering to improve projects. Based on the research findings, it can be found that if we can expect to achieve projects objectives by spending the least cost and ensure the efficacy of investment in construction projects management sector as a main challenge of development plans in the third world countries through using engineering in appropriate time periods and in different phases.

Defining a research agenda in Value Driven Design: Questions that need to be asked

Abstract: Value driven design is an innovative design process that utilizes the optimization of a system level value function to determine the best possible design. This contrasts with more traditional systems engineering techniques, which rely on satisfying requirements to determine the design solution. While ?design for value? is intuitively acceptable, the transformation of value driven design concepts into practical tools and methods for its application is challenging. This, coupled with the growing popularity of value-centric design philosophies, has led to a proposed research agenda in value driven design. This research agenda asks fundamental questions about the design philosophy and attempts to identify areas of significant challenge. The research agenda is meant to stimulate discussion in the field, as well as prompt research that will lead to the development of tools and methodologies that will facilitate the application of value driven design and further the state of the art.

Twinning Time and Cost in Incentive-Based Contracts

Abstract: The work presented in this paper focuses on contractual management of projects using a unique risk-management–driven strategy in which the twin variables of time and cost play a fundamental role. To illustrate the conceptual basis of this technique, an example project is presented first. Through the application of the writer's methodology to this project it has been shown how an incentive scheme could be set as the main contractual strategy with significant potential savings in both time and cost. The mean and 90% characteristic value for construction duration and cost, respectively, are estimated by the owner first using the writer's probabilistic forecasting method. These are used to specify an incentive scheme within which the two primary risk variables of time and cost are managed jointly by the owner and the contractor. Contractual issues such as owner's tender strategy, contractor's risk assessment, scope variation, and rise and fall adjustment have also been considered briefly.